Irish Mortgage from Australia

stickman1019

Hi Guys,

As the title suggests I am looking into getting a mortgage from an Irish bank back home while still working in Australia with view to buying / building a property in Ireland.

Just wondering what your experiences have been or any advice

Which banks are best to deal with
Any hidden costs you were not expecting
Types of mortgages available
Any general tips or tricks

Any help is greatly appreciated.

pete4130

I looked into it 2 years ago. AIB were offering a 50% mortgage or maybe a 75% mortgage at the time, I think it was 75% mortgage.
I never got further than going into the bank and talking to them about it and finding out the info at the time.
There might have been a 1 or 2 other banks that were willing to offer mortgages but they were only 50% if I recall?

Just give a few lenders a call and see what they say. Expect extra paperwork being based here, proving funds, incomes etc...

stickman1019

Hey Pete,

I did call Bank of Ireland not sure if I just had a bad operator or what But she was not the most helpful and basically eluded to the fact that because I never banked with BOI previously I didn't have much hope.

I find this a bit disappointing as both my partner and I have good jobs with solid rental and savings history here in Oz with the last few years.

Will give TSB and AIB a try aswell to see how things pan out.

pete4130

I've been with AIB for years so maybe that helped my enquiries a bit. I think BoI were offering 50% mortgages when I was looking around? It's been a while. Give them a call back and see if you can speak to somebody else.

No banks really seemed overly keen and had plenty of hoops to jump through to meet their criteria.

stickman1019

Right guys bringing this back to life if anyone might be interested.

TSB = Will not deal with mortgages from outside the EU full stop
Ulster Bank = Will not deal with non Irish residents full stop
KBC = Will do overseas but not self build (Even in Ireland)
AIB = Will do overseas but not Self Build from oversees


Bank of Ireland = Only bank that I have found that will deal with overseas and a self build.

Be prepared if you want to deal with the banks you will generally need to be in the country for 6 months on a permanent job paying rent etc. So lots of hoops to jump through.

punk_one82

This is something I'm considering looking into. In Australia on a 457 - thinking of buying back home, without the intention of moving back home any time soon. Assuming my chances of this are quite slim.

lg123

stickman1019 wrote: »

Be prepared if you want to deal with the banks you will generally need to be in the country for 6 months on a permanent job paying rent  etc. So lots of hoops to jump through.

thanks stickman. with the above, which country you talking about, au or ie?

stickman1019

Hey Punk,

It depends on your situation if you are purchasing a home that is already built then that is going to be easier than going Self Build.

Bank of Ireland do offer a Holiday Home option which you may be able to avail of (Note) the LVT ratio is lower on this than it is on the standard mortgages.

Every situation is different but I would suggest that you pick up the phone and give them a call.

Where abouts are you in Oz??

@lg123 BOTH
I am based in AU with the intention of getting a mortgage from the Irish Banks to purchase / build a home in Ireland.

punk_one82

stickman1019 wrote: »

Hey Punk,

It depends on your situation if you are purchasing a home that is already built then that is going to be easier than going Self Build.

Bank of Ireland do offer a Holiday Home option which you may be able to avail of (Note) the LVT ratio is lower on this than it is on the standard mortgages.

Every situation is different but I would suggest that you pick up the phone and give them a call.

Where abouts are you in Oz??

@lg123 BOTH
I am based in AU with the intention of getting a mortgage from the Irish Banks to purchase / build a home in Ireland.

I'll have a look into the BoI option and see what it's like. I'm in Sydney.

BossArky

stickman1019 wrote: »

Right guys bringing this back to life if anyone might be interested.

TSB = Will not deal with mortgages from outside the EU full stop
Ulster Bank = Will not deal with non Irish residents full stop
KBC = Will do overseas but not self build (Even in Ireland)
AIB = Will do overseas but not Self Build from oversees


Bank of Ireland = Only bank that I have found that will deal with overseas and a self build.

Be prepared if you want to deal with the banks you will generally need to be in the country for 6 months on a permanent job paying rent etc. So lots of hoops to jump through.

Good info. Cheers.

woolymammoth

I have no thing to contribute on this topic.

Apart from this article that popped up in my news feed this morning;

https://www.irishtimes.com/life-and-style/abroad/mortgages-for-returning-emigrants-how-to-apply-1.3119588?mode=amp

lg123

punk_one82 wrote: »

stickman1019 wrote: »

Hey Punk,

It depends on your situation if you are purchasing a home that is already built then that is going to be easier than going Self Build.

Bank of Ireland do offer a Holiday Home option which you may be able to avail of (Note) the LVT ratio is lower on this than it is on the standard mortgages.

Every situation is different but I would suggest that you pick up the phone and give them a call.

Where abouts are you in Oz??

@lg123 BOTH
I am based in AU with the intention of getting a mortgage from the Irish Banks to purchase / build a home in Ireland.

I'll have a look into the BoI option and see what it's like. I'm in Sydney.

Much luck with this one punk?

punk_one82

lg123 wrote: »

Much luck with this one punk?

I haven't done any further investigation. Just trying to stash away as much cash as possible here and then make a decision. Considering waiting another few years to see what way things are going both at home and in Sydney.

You?

lg123

Not much progress either. Been doing a bit of research but really need to start talking to the banks.